The Flip Side of Flipping a Website: 5 Critically Important Factors to Consider While Selling a Website

You bought a website, stripped it to the virtual studs and made it the best it could be. Now it’s monetized, traffic is coming in, and you’re fairly pleased with yourself. What next? If this is one of your money making ideas, obviously the next step is to sell this baby–for a good profit. As you enter the final phase of your flip, here are some things to consider:

Are You Really Ready to Sell?

“Why, of course I am!” you say meekly. Because you are thinking… You really do like creating new content–writing those weekly articles on collecting owl figurines. You’ve made some great contacts on that site, even a few you would consider friends. Your ads are profitable, and you’re continuing to climb on Google. Perhaps…you’ll keep this one.

Here’s another scenario: you’ve had it up to here with this website! You can’t get it to look, act, or monetize the way you want it to. You’re ready to let it go and try another one. You type “Flippa” into your browser so hard that the “l” key pops right out of the keyboard.

Money Making Ideas: Selling a WebsiteNeither of these incarnations of you are ready to sell. In the first, you’re enjoying that particular site, and making money from it. You can obviously renovate a website, so keep the one you like, and flip another. In the latter scenario, you’re having a hard time with one site, but want to keep flipping in general. Don’t make the mistake of putting an inferior product on the market while expecting to remain in business; you’ll hurt your reputation and future money making ideas go right out of the gate.

Of course, you may have realized that web-flipping is not for you. If that’s so, it’s all right to throw your fixer-upper online and take what you can get for it–but then you’ve probably already done that, and are not reading this article. Your final answer? When you’ve created a well-designed, effectively monetized site with quality content, that you are not too attached to, you’re ready to sell.

Setting the Price

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Using an Online Escrow Service to Buy or Sell a Website

It’s time to buy. Or maybe, it’s time to sell. No matter which position you take in this website flipping business, you’ve got a lot on the line.  If you’re the seller, you need to know that you’ll be paid–that the purchaser’s money is good and will stay in your account, no charge-backs or refunds in the offing. If you’re the buyer, you need to know that you’re getting what you paid for and, if there are any problems, you’ll be able to resolve them satisfactorily. You’re both dedicated to pursuing your money making ideas, and they’re not cheap. An online escrow service could be the perfect way for both of you to protect your interests.

What is Escrow?

You’re probably familiar with the term “escrow” from your mortgage. In this version, a portion of your house payment is held apart in a special account to insure that your insurance and property taxes are paid. In other instances, an escrow account can hold a deposit or a payment, until all parties are satisfied, upon which the money is released. Auction sites like eBay employ escrow to hold the purchase price until the goods are received, upon which time the money is given to the seller. Online escrow services are ideal for big-ticket items where no one can afford to lose–expect to see them in sales involving cars, jewelry, domain names and, yes, websites.

How Escrow Works

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Five Basic Mistakes Most People Make While Picking Keywords (and End Up Crippling Their Income Significantly)

So you’ve picked out your niche based on fantastic money making ideas. You’re sure it will attract swarms of traffic and catapult you to the top of Google in no time. All you need to do is throw in some content, put up some ads and wait for the cash to roll in, right?

Well, not quite. How are people going to find this terrific site of yours?

They just type in Google what they’re looking for and my site will pop up, right?

Not quite.

The thing is, you can’t take the risk that someone searching for something in your niche will find your site, informative as it is, “magically”. You need to pave the way for this to happen by making sure you have used the right keywords to attract the right kind of traffic. Keywords (or keyword phrases) are the terms people type into Google and other search engines when they need information. How can you be sure that your content contains the right ones?  The key is to do a little bit of keyword research before your build your site.

Here are some of the mistakes most people make when they build a website. Avoid them, and you will increase your earning potential significantly.

Mistake #1: Building a site around a keyword or phrase that you think is “obvious” or “great”

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A Few Things You Need to Know About PayPal

If you use any of the money making ideas that require online transactions e.g., eBay selling, freelancing, blogging, etc., then you need to have a means to accept payment online. And you need to be able to do this in a secure and easy-to-use fashion. Before you run off to invent your secure payment system, stop. That wheel has already been invented. And it has become a household name for people who buy or sell online. Yes, we are talking about Paypal.

PayPal has taken international business money exchange by storm. If you’ve purchased anything online in the past few years, chances are that you were offered the option to pay for your purchase using your PayPal account. If you want to make money online, you should consider creating a PayPal account so you can offer your customers the option to buy your products or services without ever touching a check or credit card.

Here are a few things you should know about this online payment juggernaut –

Accounts

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5 Critically Important Factors to Consider While Buying a Website

So you’ve decided to become a flipper, eh?  But of websites, not houses – awesome! That’s probably best, seeing that real estate has been going down the drain lately, and sawdust is messy. Still, just as in real estate, there are good buys and bad buys when you buy a website. Here are some factors you should consider when searching for a website for your flipping project.

What Do You Know?

Perhaps one of the most important considerations is you: your knowledge, your abilities, and your resources.

Are you an experienced web developer? Do you know how to code? If you know very little about web design, how much are you willing to learn and how long will it take you to learn it? What software do you already own, and how much can you afford to buy? Are you planning to outsource your content, or will you write your own?

There are no right or wrong answers to these questions. No matter what your initial ability, you can still pursue your money making ideas. [Read more…]

Flipping Websites for Fun and Profit

If you have seen HGTV, you are probably very familiar with the popular shows that revolve around flipping houses and commercial real estate. As appealing as real estate investments seem, they do require a huge upfront investment. Contracting skill, or the lack thereof, is another big issue. Add to that list – timelines, taxes, risk involved, stress and the fact that an empty house, however expertly renovated, produces no income; and you’ll see why house-flipping is not one of the most feasible money making ideas around.

So, what should enterprising youngsters with low budgets do? Flip virtual properties. Yes, you can flip virtual properties pretty much the same way as real properties. No, not in a “second life” sense, but real websites, blogs and forums. Just like real properties, you keep an eye out for a great deal on a good website which you then buy, “renovate,” and resell for a nice second income. Hammer-shy thumbs rejoice!

Prerequisites

Some of the basic prerequisites of website flipping are:

  • A computer with a good Internet connection, to handle new sites with all the bells and whistles. This is not one of the money making ideas that you can pursue at your public library.
  • A basic knowledge of how websites work, how they’re built, and webmaster skills. If you’re technically-minded, you may be able to pick this up from books and the Internet; if not, one or two computer classes at your local community college would be helpful. If you plan to upgrade the sites you purchase, you’ll need a higher level of skill.  In this enterprise, the more you know, the more successful you’ll be.
  • Cash. The amount is up to you; some websites sell for hundreds, others for higher amounts. Just be certain it’s money you can afford to lose. There’s a learning curve to website flipping and, as in any venture that relies on supply and demand, a certain element of risk.

Initial Investment

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